Health Savings Account (HSA)-Qualified Health Plan Information

A $4,000 deductible for family plans; a $2,000 deductible for family plans.

Medical services are covered in full after the deductible! That means there are no medical copays – the deductible is your full exposure for medical expenses!

Prescriptions count toward the combined medical/Rx deductible (except for certain preventative drugs--see lists below). After the deductible, you will only make copays on prescriptions; those prescription copays are limited by a per person/family out-of-pocket max.

Health Savings Account (HSA)

If you enroll in an HSA-Qualified Plan you will have access to a Town-provided Health Savings Account (HSA), provided you are qualified to make contributions (see open enrollment letter for details). For the plan year beginning June 1, 2018, the Town will make a contribution to the account during your first month of coverage – $2,000 for family plans and $1,000 for individual plans. That means you have enough money to cover half the deductible!

Advantages of HSAs include:

No time limit on reimbursements or spending funds (no use-it-or-lose-it provisions)!

Fees are paid by the Town while enrolled in a Town HSA-Qualified health plan.

Provider payments can be made online using HSA funds.

You own the account – it’s interest-bearing, portable (keep post-employment), inheritable and, once you save a minimum amount, investible.

There’s no tax on interest & investment earnings if used for qualifying medical expenses!

Contributions reduce taxable income & help build long-term savings you can take into retirement!

The Town's HSA is administered by Health Equity. Health Equity's website offers videos and other tools to help you understand how HSAs work. For specific questions, please call Health Equity Member Services: 866-346-5800.